For you Rotax powered flyers, this announcement by BRP may be of
interest. I was intrigued to learn that despite their eye-watering
pricing, the company is in debit.
Nigel*
*
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/Bombardier Recreational Products/*/announced an initial public offering
price of CN$21.50 per share when the company goes public.//
//At that price ($20.83 U.S.D.) for 12,200,000 shares, the IPO would
generate proceeds of CN$262.4 million (US$254.8 million) for//*BRP*//**
<http://www.motorcycle.com/manufacturer/brp.html>//, the company behind
//*Rotax *//aircraft engines, //*Ski-Doo*//and //*Lynx*//snowmobiles,
//*Sea-Doo*//watercraft, //**//*Evinrude & Johnson*//outboard engines,
and //*Can-Am*//'s ATVs, side-by-sides and //*Spyder*//three-wheeled
roadsters. /
/BRP's stock will be listed on the Toronto Stock Exchange, trading under
the symbol "DOO". The IPO closes May 29 and//will offer subordinate
voting shares, while the company's current owners, a consortium of the
//*Bombardier*//and //*Beaudoin*//families, //*Bain Capital*//and the
Qubec government's public pension plan manager //*Caisse de dpt et
placement du Qubec*//, will hold on to 90% of the company's equity.///
//
/At $262.4 million, this would represent the largest IPO in Canada this
year. BRP plans to use the proceeds from the IPO to pay down the
company's debt./
//
/The IPO is underwritten by BMO Capital Markets, RBC Capital Markets,
UBS Securities Canada Inc., Citigroup Global Markets Canada Inc., acting
as joint bookrunners, and including Wells Fargo Securities LLC, CIBC
World Markets Inc., Desjardins Securities Inc., Scotia Capital Inc.,
National Bank Financial Inc. and Robert W. Baird & Co. Incorporated./
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